Spanish Mountain Gold Ltd (TSX-V:SPA, OTC:SPAZF) has announced the final results from its recently completed 10,000-meter winter diamond drilling program at its flagship Spanish Mountain Gold project in British Columbia, with the highlight being a strategic step-out hole that intersected zones of gold mineralization.
This step-out hole, located approximately 300 meters northwest of a previous high-grade intercept at the K-Zone reported in April, intercepted 100.49 meters grading 0.49 grams per ton (g/t) of gold, starting from 300 meters depth.
Within that interval, 15 meters graded 1.29 g/t gold, including a 1-meter section grading 12.13 g/t gold that contained visible gold.
The same hole also intersected a newly discovered cataclastic argillite unit at a vertical depth of 240 meters. This unit displayed consistent gold grades, suggesting the potential to extend mineralization to the southwest, beyond the limits of the company’s 2021 prefeasibility study open-pit constrained mineral resource estimate.
Two other holes were collared 35 meters northeast of the earlier high-grade intercept. The first intercepted 46 meters grading 0.22 g/t gold from 162 meters, including 8 meters at 0.39 g/t and 2 meters at 1.06 g/t, while the second hole intercepted 5.33 meters grading 0.34 g/t gold.
“Overall, we are very pleased with this year’s diamond drill campaign, having revealed several significant extensions to gold mineralization at the Phoenix, Outcropping Tuff, and K-Zone targets,” Spanish Mountain Gold’s director of exploration Julian Manco said in a statement.
“These results have grown the mineral endowment potential strike length to 3 km. It is a very exciting time for the project’s growth prospects.”
Spanish Mountain Gold added that evolving geological and structural interpretations continue to reveal mineral potential beyond the 2021 resource boundaries.
Recent drill results point to a new prospective target area within the mafic tuff unit. Intense hydrothermal alteration observed near the south fault suggests the area may exhibit intrusive characteristics that could have facilitated the movement of mineralizing fluids.
Gold-in-soil anomalies found near the intersection of key fault structures are also reinforcing the exploration potential of these zones as broader project-scale targets, according to the company.